How is the Healthcare Facility Management Market Poised for Growth: Trends and Opportunities Through 2034
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What key factors are powering the surge in the healthcare facility management market right now?
In recent years, the scale of the healthcare facility management market has seen swift expansion. It is anticipated to surge from $259.78 billion in 2024 to $287.76 billion in 2025 with a compound annual growth rate (CAGR) of 10.8%. The surge experienced in the historical period can be credited to the heightened demand for healthcare services, rigid regulatory adherence, delegation of non-essential services, measures taken for energy efficiency, maturing healthcare infrastructure, increasing intricacies of healthcare facilities and the globalization of healthcare services.
How fast Is the healthcare facility management market expected to grow, and what’s its future value?
The market size for healthcare facility management is predicted to undergo swift expansion in the coming years, reaching a value of $450.35 billion by 2029 with a compound annual growth rate (CAGR) of 11.8%. The boost during the expected period is due to the increased adoption of telemedicine, the rising trend of outpatient care centers, a strong focus on cybersecurity, tailor-made and accurate medicine, initiatives towards managing the health of populations, and planning for resilience and disaster recovery. The prime trends in the speculated period include integration of technology and intelligent facilities, energy sufficiency and sustainability, decisions based on data analysis, telehealth amenities and technology amalgamation, implementation of eco-friendly building practices, training of healthcare facility personnel, and technology focussed on patient-centricity.
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What are the leading drivers of growth in the healthcare facility management market?
The escalating patient count and the rise in healthcare expenditure by both private and public entities are significant contributors to the expansion of the healthcare facility management market. Enhanced service provision to patients, backed by government and private spending in multiple nations, bolsters the growth of healthcare systems, further encouraging the uptake of healthcare facility management. For example, the UK’s healthcare spending in 2022 hit approximately $354.88 billion (£283 billion), as reported by the Office for National Statistics, a UK-based national statistics organization. This figure marked a nominal 0.7% rise from the 2021 figures. Thus, the surge in healthcare spending by private and public parties involved in healthcare systems is fuelling the healthcare facility management market’s growth.
What are the key segments defining the healthcare facility management market?
The healthcare facility management market covered in this report is segmented –
1) By Type: Hard Services, Soft Services, Other Services
2) By Service Type: Property, Cleaning, Security, Catering, Support, Environmental Management
3) By Business Model: Outsourced, In-House
4) By End User: Hospitals And Clinics, Long-Term Healthcare Facilities
Subsegments:
1) By Hard Services: Building Maintenance, Mechanical And Electrical Services, Infrastructure Management
2) By Soft Services: Cleaning And Sanitation, Security Services, Catering And Food Services
3) By Other Services: Waste Management, Grounds Maintenance, Pest Control Services
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Who are the key players steering the development of the healthcare facility management market?
Major companies operating in the healthcare facility management market are ABM Industries Inc., ISS World Services A/S, Jones Lang LaSalle IP Inc., Medxcel Facility Management LLC, Mitie Group PLC, Aramark Corporation, Compass Group PLC, Ecolab Inc., Sodexo SVC India Pvt. Ltd., OCS Group Limited., Serco Group PLC, Vanguard Resources Inc., Arora Holdings Limited., Cushman & Wakefield, CBRE Group Inc., Johnson Controls International PLC, Crothall Healthcare, C&W Facility Services Inc., AM Facilities Management Service Ltd., Emcor Facilities Services Inc., Epic Facilities Management, Stericycle Inc., Vitas Healthcare, WellSky, Yardi Systems Inc.
What emerging trends are influencing the growth of the healthcare facility management market?
The rise of technological innovation is a dominant trend observed in the healthcare facility management market. The healthcare industry’s future is being profoundly influenced by rapid technological growth. One such instance is CloudWave, an independent cloud and healthcare managed services hosting provider based in the US, which introduced its OpSus Cloud Services in September 2022. CloudWave OpSus Edge, located in the user’s data center, delivers infrastructure-as-a-service, including computing, storage, security, backup, recovery, as well as comprehensive operations and system maintenance. Hospital users are offered a multi-cloud strategy by OpSus Cloud Services, ensuring accessibility, straightforward access, and robust security.
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Which regions are most influential in expanding the healthcare facility management market?
North America was the largest region in the healthcare facility management market in 2024. The regions covered in the healthcare facility management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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